Fighting fraud is an ongoing struggle for all organizations, from small businesses and major enterprises to government agencies and educational institutions. According to the Association of Certified Fraud Examiners’ (ACFE) 2014 Report to the Nations on Occupational Fraud and Abuse, an organization’s typical occupational fraud loss is 5% of its annual revenue. The ACFE Report found that the most common way an organization can detect fraud is through tips. Employees, vendors or outsiders who let the organization know that they think fraud is occurring can make a big difference.
The below infographic highlights the impacts of occupational fraud and some key insights that can help your company combat the threat.